{"id":181996,"date":"2020-12-24T20:21:33","date_gmt":"2020-12-24T20:21:33","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=181996"},"modified":"2021-05-05T07:24:44","modified_gmt":"2021-05-05T07:24:44","slug":"iraqi-2021-budget","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/iraqi-2021-budget\/","title":{"rendered":"Iraqi Cabinet approves 2021 budget"},"content":{"rendered":"\n

The Iraqi Council of Ministers approved 2021 budget with deficit of $43 billion in an extraordinary session that took place amid an objection of Iraqi parties and political forces.<\/p>\n\n\n\n

According to a Prime Minister brief statement, \u201cthe vote on the draft budget was made during the extraordinary session, which was held chaired by Prime Minister Mustafa Al-Kazemi<\/a>\u201d.<\/p>\n\n\n\n

The draft budget value amounted to 150 trillion Iraqi dinars ($103 billion).<\/p>\n\n\n\n

Budget value<\/strong><\/h2>\n\n\n\n

This budget approval come while Iraq is grappling with an economic and financial crisis due to low oil prices.<\/p>\n\n\n\n

Iraqi government sources said that the 2021 budget deficit is expected to reach $43 billion, as it was based on the global oil price of $42 a barrel.<\/p>\n\n\n\n

The Council said it attempts to reach a consensus formula despite the ongoing political controversy.<\/p>\n\n\n\n

The submitted draft budget is expected to face major objections in Parliament, especially after major Iraqi political forces announced their rejection clearly.<\/p>\n\n\n\n

Nouri al-Maliki\u2019s coalition refusal<\/strong><\/h2>\n\n\n\n

State of Law Coalition, led by Nouri al-Maliki, said that it will prevent the draft budget from passing in Parliament.<\/p>\n\n\n\n

\u201cThe government has turned to the simplest and easiest choices in reform process, which is raising the price of the dollar and deducting the salaries of employees in the budget for next year,\u201d deputy for the coalition, Mansour Al-Baiji, in a statement.<\/p>\n\n\n\n

\u201cWe will not pass the budget if it includes targeting employees and deducting their salaries in this arbitrary way.<\/p>\n\n\n\n

\u201cMost of the employees in Iraq have low salaries that do not exceed 500 thousand dinars per month. If any amount is deducted from it, employees will be face economic disaster.<\/p>\n\n\n\n

\u201cThe government should review its decisions regarding salary deduction. Employees\u2019 salaries are a red line, and Parliament will not accept to deduct one dinar from them on any grounds whatsoever.<\/p>\n\n\n\n

\u201cEmployees shouldn\u2019t be victims of irrational decisions. Those who issued them should have sought reform in other sectors where reform is needed for a better economic situation of the country.\u201d<\/p>\n\n\n\n

Al-Fateh Alliance\u2019s position<\/strong><\/h2>\n\n\n\n

For its part, the Al-Fateh Alliance, the political wing of the Popular Mobilization, announced rejecting the draft budget and confirmed that it is planning on collecting signatures for overturning it.<\/p>\n\n\n\n

Deputy for the Badr parliamentary bloc (part of the Al-Fateh Alliance) Uday Shaalan Abu Al-Joun said: \u201cWe will work to collect signatures to overturn the draft budget if it includes reducing employee salaries or fixing the dollar exchange rate\u201d.<\/p>\n\n\n\n

\u201cThe government, the Ministry of Finance, and the Central Bank are \u2018playing with the fire\u2019 without realizing the seriousness of challenging the people.<\/p>\n\n\n\n

\u201cThe government’s \u2018illogical\u2019 reforms will return with disastrous results, as they came to support the corrupt at the expense of the poor classes.<\/p>\n\n\n\n

\u201cThe government, with this ominous budget, will deliver the coup de gr\u00e2ce to itself, and its fate will be the same as the fate of the government that preceded it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Iraqi Council of Ministers approved 2021 budget with deficit of $43 billion in an extraordinary session that took place amid an objection of Iraqi parties and political forces. According to a Prime Minister brief statement, \u201cthe vote on the draft budget was made during the extraordinary session, which was held chaired by Prime Minister […]<\/p>\n","protected":false},"author":4,"featured_media":182002,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[278,586],"class_list":["post-181996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-featured","tag-iraq"],"yoast_head":"\nIraqi Cabinet approves 2021 budget | Business News Report<\/title>\n<meta name=\"description\" content=\"Business News Report - Iraqi Cabinet approves 2021 budget - Politics Iraq approves 2021 budget with $43 billion deficit\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/iraqi-2021-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iraqi Cabinet approves 2021 budget | Business News Report\" \/>\n<meta property=\"og:description\" content=\"Business News Report - 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